The terms "managed futures" and "commodity trading advisor" are the governmental expressions that have been slapped onto the alternative investment arena for many years. They are awful terms. They don't really describe the industry or the most prominent style of trading: Trend Following. Trend traders trades currencies, stock indexes, interest rates and energies (like crude oil and gas). That is a fact. But instead of calling the investment class "Trend Following", people have come to call it "Managed Futures".

Good White Paper on "Managed Futures" from Steven Koomar

Steven Koomar emailed us suggesting his brief white paper would be of interest to our readers. We agreed. Please take a read of his PDF.